Porter Capital has welcomed 80 new clients in May, extending over $5.8 Million in credit lines. Below is a highlight of the unique funding opportunities:
Provider of Hygienic Pumping Solutions | $1.5MM AR Credit Line | 2 weeks to fund
About
- Company has been a leading provider of pumps for hygienic applications in the food & biopharma industries for over two decades.
- Located in Atlanta, GA with, $6MM in revenue.
What we did that our competitors would not:
- 100% concentrated to a single customer.
- Porter advanced 90% on the total AR w/ no cap nor concentration limit within 2 weeks.
Problem solved:
- Enabled the company to receive immediate funding rather than having to wait 35 days for their customers to pay.
Aluminum Extrusion Supplier | $300K AR Credit Line | 10 days to fund
About
- Mexican Company with a US subsidiary, where the aluminum is manufactured in Mexico before sold to US buyers.
- Located in Miami, FL, with a projected revenue of $21MM for 2021.
What we did that our competitors would not:
- Porter was able to get comfortable on challenging debtor credit, a risk our competitors were not comfortable with.
Problem solved:
- The company is now able to pay suppliers right away and take on larger orders.
Speciality Chemical Manufacturer | $1MM AR Credit Line | 5 days to fund
About
- A specialty chemical manufacturer located in Pennsylvania and doing $9MM in revenue.
What we did that our competitors would not:
- After competing against several other lenders, Porter offered the most attractive proposal to win the deal.
Problem solved:
- The company now has access to over $750K in accounts receivable and can meet its growth potential.
Electronic Parts Supplier | $400K AR Credit Line | 5 days to fund
About
- An aftermarket electronic parts supplier located in Tustin, California, and doing $2MM in revenue.
What we did that our competitors would not:
- Porter’s “top-notch customer service” led this company to leave another factor.
- The client left the other factor due to poor customer service and an outdated/complicated process.
Problem solved:
- Porter was able to provide the client with an updated and simplistic process and quality service.
Transportation Trucking Company | $90K Recourse Factoring Line of Credit – 3 days to fund
About
- A trucking company operating out of Georgia needed a cash flow solution to meet expenses.
What we did that our competitors would not:
- After being referred by a current client of Porter’s, this trucking company chose to switch factors.
Problem solved:
- Porter was able to provide the client with the cash flow needed to get to the next load within only 3 days.
